SOUTH SAN FRANCISCO, Calif., April 18, 2018 /PRNewswire/
-- Rigel Pharmaceuticals, Inc. (Nasdaq: RIGL) today announced that it intends to offer and sell up to 15,000,000 shares of
its common stock in an underwritten public offering. Rigel expects to grant the underwriters a 30-day option to purchase up to an
additional 2,250,000 shares of common stock sold in the public offering on the same terms and conditions. The offering is subject
to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the
actual size or terms of the offering. All of the shares to be sold in the offering are to be sold by Rigel, with the proceeds to
be used for activities in connection with the commercial launch of TAVALISSE in the United
States, research and development and general corporate purposes.
Jefferies LLC, Piper Jaffray & Co. and BMO Capital Markets Corp. are acting as the joint
book-running managers of the offering. H.C. Wainwright & Co., LLC is acting as lead manager for the offering.
A shelf registration statement on Form S-3 relating to the public offering of the shares of common stock described above was
filed with the Securities and Exchange Commission (the "SEC") and is effective. A preliminary prospectus supplement relating to
the offering will be filed with the SEC and will be available on the SEC's web site at www.sec.gov. When available, copies
of the preliminary prospectus supplement may also be obtained from Jefferies LLC, Attention: Equity Syndicate Prospectus
Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, or by telephone at (877)
547-6340, or by e-mail at Prospectus_Department@Jefferies.com, from Piper Jaffray & Co., Attn: Prospectus
Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, by telephone at (800) 747-3924, or
by email at prospectus@pjc.com, or from BMO Capital Markets Corp.,
Attention: Equity Syndicate Department, 3 Times Square, 25th Floor, New York, NY 10036, or by
telephone at (800) 414-3627 or by email at bmoprospectus@bmo.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall
there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be
unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
About Rigel Pharmaceuticals, Inc.
Rigel Pharmaceuticals, Inc., is a biotechnology company dedicated to discovering, developing and providing novel small molecule
drugs that significantly improve the lives of patients with immune and hematologic disorders, cancer and rare diseases. Rigel's
pioneering research focuses on signaling pathways that are critical to disease mechanisms. The company's first FDA approved
product is TAVALISSE™ (fostamatinib disodium hexahydrate), an oral spleen tyrosine kinase (SYK) inhibitor. Rigel's current
clinical programs include Phase 2 studies of fostamatinib in autoimmune hemolytic anemia and IgA nephropathy. In addition, Rigel
has product candidates in development with partners BerGenBio AS, Daiichi Sankyo, and Aclaris Therapeutics.
Forward-Looking Information is Subject to Risk and Uncertainty
Certain of the statements made in this press release are forward looking, such as those, among others, relating to Rigel's
expectations regarding the completion of the proposed public offering. Actual results or developments may differ materially from
those projected or implied in these forward-looking statements. Factors that may cause such a difference include, without
limitation, risks and uncertainties related to whether or not Rigel will be able to raise capital through the sale of shares of
common stock, the final terms of the proposed offering, market and other conditions, the satisfaction of customary closing
conditions related to the proposed public offering and the impact of general economic, industry or political conditions in
the United States or internationally . There can be no assurance that Rigel will be able
to complete the proposed public offering on the anticipated terms, or at all. You should not place undue reliance on these
forward-looking statements, which apply only as of the date of this press release. Additional risks and uncertainties relating to
the proposed offering, Rigel and its business can be found under the heading "Risk Factors" in Rigel's Annual Report on Form 10-K
for the year ended December 31, 2017 and other filings with the SEC, and in the preliminary
prospectus supplement related to the proposed offering to be filed with the SEC on or about the date hereof. Rigel does not
undertake any obligation to update forward-looking statements and expressly disclaims any obligation or undertaking to release
publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in its expectations
with regard thereto or any change in events, conditions or circumstances on which any such statements are based.
Contact: Raul Rodriguez
Phone: 650.624.1302
Email: invrel@rigel.com
Media Contact: Jessica Daitch
Phone: 917.816.6712
Email: jessica.daitich@inventivhealth.com
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SOURCE Rigel Pharmaceuticals, Inc.